MainStreet Investment Advisors LLC Makes New Investment in Copart, Inc. (NASDAQ:CPRT)

MainStreet Investment Advisors LLC acquired a new position in shares of Copart, Inc. (NASDAQ:CPRT) in the 4th quarter, according to its most recent Form 13F filing with the Securities and Exchange Commission. The fund acquired 3,833 shares of the business services provider’s stock, valued at approximately $220,000.

Several other institutional investors and hedge funds have also recently added to or reduced their stakes in CPRT. Norges Bank acquired a new position in shares of Copart in the 4th quarter valued at approximately $682,089,000. Madison Investment Advisors LLC bought a new position in Copart during the 4th quarter worth $253,686,000. Bank of New York Mellon Corp increased its position in Copart by 23.3% during the 4th quarter. Bank of New York Mellon Corp now owns 19,440,046 shares of the business services provider’s stock worth $1,115,664,000 after buying an additional 3,667,534 shares during the period. Edgewood Management LLC increased its position in Copart by 14.1% during the 4th quarter. Edgewood Management LLC now owns 23,463,118 shares of the business services provider’s stock worth $1,346,548,000 after buying an additional 2,907,405 shares during the period. Finally, Wellington Management Group LLP increased its position in Copart by 14.4% during the 4th quarter. Wellington Management Group LLP now owns 14,157,306 shares of the business services provider’s stock worth $812,488,000 after buying an additional 1,785,741 shares during the period. 85.78% of the stock is owned by institutional investors.

Wall Street Analysts Forecast Growth

Separately, Argus cut Copart from a “buy” rating to a “hold” rating in a research report on Friday, March 14th.

Copart Stock Performance

CPRT opened at $62.42 on Thursday. The firm has a market cap of $60.30 billion, a P/E ratio of 41.89 and a beta of 1.20. Copart, Inc. has a 52-week low of $48.05 and a 52-week high of $64.38. The business’s fifty day moving average is $57.77 and its 200-day moving average is $57.81.

Copart (NASDAQ:CPRT) last released its earnings results on Thursday, February 20th. The business services provider reported $0.40 earnings per share (EPS) for the quarter, topping the consensus estimate of $0.38 by $0.02. The company had revenue of $1.16 billion for the quarter, compared to analyst estimates of $1.13 billion. Copart had a return on equity of 19.31% and a net margin of 32.27%. On average, research analysts predict that Copart, Inc. will post 1.57 earnings per share for the current fiscal year.

Insider Activity at Copart

In related news, Director James E. Meeks sold 100,000 shares of the firm’s stock in a transaction dated Wednesday, March 19th. The stock was sold at an average price of $54.00, for a total value of $5,400,000.00. The transaction was disclosed in a document filed with the SEC, which can be accessed through the SEC website. Also, Director Steven D. Cohan sold 94,997 shares of the firm’s stock in a transaction dated Monday, April 14th. The shares were sold at an average price of $60.01, for a total value of $5,700,769.97. The disclosure for this sale can be found here. Insiders have sold 200,000 shares of company stock valued at $11,401,000 over the last ninety days. 9.68% of the stock is owned by corporate insiders.

About Copart

Copart, Inc provides online auctions and vehicle remarketing services. It offers a range of services for processing and selling vehicles over the Internet through its Virtual Bidding Third Generation Internet auction-style sales technology on behalf of vehicle sellers, insurance companies, banks and finance companies, charities, and fleet operators and dealers, as well as individual owners.